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Key Highlights
- The full form of TAN is Tax Deduction and Collection Account Number.
- It is a crucial identifier for businesses and individuals who deduct or collect tax.
- TAN number search by name is possible through the official NSDL website.
- With the knowledge of TAN, compliance with tax regulations will become much easier.
Being a business owner or an individual responsible for deducting tax, at one point or another, you might have come across the term 'TAN' . But what does TAN mean and why is it important to know about TAN?In this blog, we will explore every aspect of a TAN - importance, significance, and also how to perform a TAN number search by name.
What is TAN?
TAN or Tax Deduction and Collection Account Number is a unique 10-character alpha-numeric number issued by the Income Tax Department, Government of India. The TAN is used by the person and entities deducting the tax at source ( TDS ).
Why is it Important to Know Your TAN?
Knowing your TAN is quite important for a number of reasons. TAN is an important factor in ensuring that TDS/TCS returns are filed correctly. In case you do not quote your TAN or quote an incorrect TAN, you shall be charged a considerable amount as penalty. Your TAN is also quite essential in many business transactions.
How to Perform a TAN Number Search by Name or Search by TAN
If you need to find your TAN or verify someone else's, you can perform a TAN number search by name. Here's how:
- Head to the e-Filing portal: Start by visiting the official website: https://www.incometax.gov.in/iec/foportal/
- Locate "Know Your TAN": Within the portal, look for the "Quick Links" section (often on the homepage or sidebar). You should find a hyperlink titled "Know Your TAN." Click on this link.
- Choose Your Search Criteria: The portal offers two search options: "Name" or "TAN."
- Verify with OTP (One-Time Password): Once you've entered the search details, click "Continue." The system will send a one-time password (OTP) to the provided mobile number.
- Validate and View Details: Enter the received OTP in the designated field and click "Validate." If the information is correct, the portal will display the TAN details for the chosen entity.
How to Apply for TAN Number
If you don't have a TAN yet, here's a quick guide on how to apply:
- Step 1 : Visit the TIN-NSDL website or your nearest TIN Facilitation Centre.
- Step 2 : Fill out Form 49B (application for TAN).
- Step 3 : Submit the required documents, including proof of identity and address.
- Step 4 : Pay the application fee.
Once processed, you'll receive your TAN within 7-10 working days.
Key Factors to Remember About Your TAN
Every business unit that forms part of an entity must have a unique TAN. Additionally, no TAN is transferable; a person cannot sell it/transfer it to any other person or to any other business.
Possession or use of multiple TANs is illegal. It can only be deposited with the concerned tax department by the TAN holder in the case of closure of the business unit or when there is no further liability to deduct or collect any tax.If not done, it may invite penalties and legal consequences. Besides, it is also worth keeping your TAN information confidential to prevent unauthorized use or identity theft.
Know Your TAN Number
Understanding what TAN is and knowing how to do a TAN number search by name is basic knowledge for any business owner or tax professional in India. Make sure all information related to TAN is at your fingertips and use it correctly to keep your taxes in order without receiving any undue penalty from the authorities.Your TAN is as important as your PAN, Permanent Account Number, with respect to all tax-related matters; always keep it handy and use it responsibly. Also Read: 1) Tax Deduction and Collection Account Number (TAN): A Comprehensive Guide 2) What is the difference between TAN, PAN and TIN?
FAQS - FREQUENTLY ASKED QUESTIONS
What is the difference between TAN and PAN?
While both are tax-related identifiers, PAN (Permanent Account Number) is for all taxpayers, whereas TAN is specifically for those who deduct or collect tax at source.
Can I apply for TAN offline?
Application for TAN can be done offline by submitting Form 49B at any TIN Facilitation Centre.
How long does it take to get a TAN after applying?
Typically, it takes 7-10 working days to receive your TAN after application.
Is TAN number search by name the only way to find a TAN?
You can also search by PAN or TAN number on the official website.
What documents are required for TAN application?
Proof of identity, address proof, and in case of companies, the certificate of incorporation are required documents.
Can an individual apply for a TAN?
Individuals who are required to deduct tax at source can apply for a TAN.
Is it mandatory to quote TAN in all tax-related documents?
It is mandatory to quote your TAN in all TDS/TCS challans, certificates, and returns.
What happens if I use an incorrect TAN?
Using an incorrect TAN can lead to penalties and difficulties in processing your tax returns.
Can I update my TAN details if there are changes?
TAN details can be updated by submitting a request to the Income Tax Department.
How to know your tan by pan?
There is no direct method to retrieve your TAN number using just your PAN.
The information contained herein is generic in nature and is meant for educational purposes only. Nothing here is to be construed as an investment or financial or taxation advice nor to be considered as an invitation or solicitation or advertisement for any financial product. Readers are advised to exercise discretion and should seek independent professional advice prior to making any investment decision in relation to any financial product. Aditya Birla Capital Group is not liable for any decision arising out of the use of this information.
